Hi,
Can anyone help me? I've been threatened by Ruthbridge over a loan I took out with Welcome Finance in June 2002, for £1200. I completely forgot about the debt ( my own stupid fault ) and have moved house 3 times since then. Ruthbridge have now told me that I have to pay them £2756 or they will make me bankcrupt. I have checked my credit file and there is not a CCJ from them on there, but it does show that they have bought the debt in 2006 and that I have 'defaulted' on it.
I have spoken to Welcome Finance and they informed me that the debt was sent to 3/4 different collection companies, but that it has now been sold, so they can't help me any further.
Ruthbridge have given me until Wednesday 21st to get back to them 'or bancruptcy proceeding will be instigated'.
I'm not in a position to take out a loan to pay this money back and they won't accept installments ( I didn't offer - he told me that I must pay the full amount and that nothing else would be considered ).
Can anyone help or offer any advise on my situation, I don't want to lose my home!